Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: SEC charges Marcum LLP for quality control deficiencies, flyExclusive launches enhanced Jet Club and fractional program and Owlet announces clearance from FDA
SEC Charges Audit Firm Marcum LLP for Widespread Quality Control Deficiencies
The Securities and Exchange Commission today charged audit firm Marcum LLP with systemic quality control failures and violations of audit standards in connection with audit work for hundreds of SPAC clients beginning at the latest in 2020.
The SEC’s order also found that Marcum’s deficiencies were not limited to SPAC clients, but they reflected systemic quality control failures throughout the firm. Marcum agreed to pay a $10 million penalty to settle the charges.
READflyExclusive Launches Enhanced Jet Club and Fractional Program
flyExclusive, a leading provider of premium private jet charter experiences, today announced expanded features to its award-winning Jet Club and fractional program that will allow members to benefit from increased savings and flexibility.
The program enhancements advance flyExclusive’s commitment to offering an unrivaled, best-in-class customer experience focused on safety, comfort and convenience.
EG Acquisition Corp. (NYSE:EGGF) announced its $600 million business combination with flyExclusive in October 2022.
READOwlet Announces FDA-Clearance of the First Prescription Pulse Oximetry Sock for Infants
Owlet (NYSE: OWLT), the pioneer of smart baby monitoring, announces clearance from the U.S. Food and Drug Administration (“FDA”) of BabySat™, the first medical pulse-oximetry device featuring its advanced, wire-free sock design. Owlet is a leader in infant health data, having monitored more than 1 million babies, and with BabySat, combines its consumer-first expertise with hospital-grade monitoring accuracy.
Owlet completed its business combination with Sandbridge in July 2021.
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At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...